Divergence is one of the best technical analysis theories. Although not 100%, a very high probability of profitability is well known.
This idea lists most of the instances of divergence on BTCUSD (Coinbase) since $19892 summit of December 2017 on 2H interval.
Indicators used:
RSI
MACD
9 Seasons Rainbow Multiple Time Frames Pattern PRO
Base Time Frame: 2H,...
With stocks recovering from black December, looks like GOLD is weakening. Those two candles are hinting a downtrend may start.
I need confirmation to open a short. Remember Trend is usually a great friend here, so once we confirm a direction I would open a position immediately.
The blue line is close to 1300, a critical spot for me. Let's keep an eye on this. (And the MA)
gbpchf has reached a supply zone. we also see that there is bearish divergence indicating that the bullish momentum is slowing down and that there can be a trend change occurring soon.
NZDCAD has hit a key level as you can see on the 4 hour chart and is bouncing to the upside. Bullish divergence activity on 4 hour and also the 1 hour chart.
Triple hit of support with RSI divergence.
Using heikin ashi smoothed (2-2) waiting for confirmation green candle.
Health and momentum is weak
Simple analysis but don't need to overthink this one.
Enter trade on 4 hour for tighter stop loss VERY important you know how to do this right.
Potential sell opportunity this week, has completed a 5 wave corrective pattern with divergence, will be looking for the next 1hr impulse down with the 270 as target profit. This would give us a complete 3 wave pattern in the 1hr.
$ETH has put in a great set-up.
We are currently sitting around $207
Price has pulled into an area of structural support, through a harmonic AB=CD move.
At this area of structure, we get the 127.2 Fibonacci confluence.
For me, a key indicator to go long here, is a the addition of a double bottom coupled with bullish divergence on RSI (7).
This suggests that...
1 hour bearish pin bar has engulfed prior candle to confirm a double top at a level that was previously used as support and is also confluent with the resistance trendline of a rising channel within a larger rising channel. 4 hour RSI is also showing strong divergence. This all tells me that we could be about to see gold make a large move downwards.
- Major daily support level of 1.1530 holding up as we can see several candlestick rejections on the H1 timeframe
- Bullish divergence on the H1 using both stochastics or RSI which paint the same story of unsustainable price decline
- EUR/USD seems to be ranging just above this key level before it decides to break 1.1620 and aim higher
- 60 pips target with 35 pips stop
- Bullish divergence on H4 using stochastics
- Breakout of the consolidation zone and mini channel on the H1
- Supported by monthly key level if price decides to retest the consolidation zone once again
- 90 pips target with 45 pips stop loss
- Bearish divergence on the H4 using stochastics
- Price seems to be rejecting the major daily resistance level of 114.33 and started to consolidate on the H1 before breaking out this zone to the downside
- Could see price heading towards 113.00 as it fulfils the fibonacci 38.2 level on the D1 as a well due retracement after consecutive bullish moves
GBPJPY - short opportunity based on structure, as strong resistance reached as well as some form of RSI divergence present.
Sell limit placed little bit higher and therefore great risk rewards ratio acquired.
EURAUD:
Opportunity to short.
Market full of buys.
Touch of weekly resistance.
Longer-term daily RSI divergence (slight one).
Potential for second target in the case of stronger move.
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